CIBC Aventura Gold Visa Card Review
Pros
- Competitive welcome offer
- Earn 2 Aventura Points per $1 spent on eligible travel purchases
- Earn 1.5 points per $1 spent at eligible gas stations, grocery stores, and drug stores
- Earn 1 point for every $1 spent on all other purchases
- Comprehensive travel insurance, including travel medical, trip cancellation, and auto rental collision benefits
- Priority airport lounge access
- Purchase security and extended warranty protection
- Financial tools, such as free access to your credit score through CIBC CreditSmart
Cons
- $120 annual fee
- Limited flexible points redemption options: primarily booked through the Aventura Travel Assistant
- No fee waiver for additional cardholders
- Higher earn rates on travel purchases limit the overall earning power
- Requires a minimum annual income of $15,000+ at least as an individual or $25,000+ as a household income
How you earn rewards
Each card earns rewards differently. Part of choosing your card is deciding what type of rewards you want to get. With CIBC Aventura Gold Visa Card, here’s how you earn rewards:
| Pharmacy | 1.5 points |
| Gas | 1.5 points |
| Groceries | 1.5 points |
| All Other Spend | 1 point |
How much your rewards are worth
The dollar value of your rewards depends on the specific CIBC rewards program and what you choose to redeem your points for.
For CIBC Aventura Gold Visa Card in particular, if you spend $2,000.00 per month, here’s our estimated rewards earned depending on which reward you choose:
| Redemption method | Annual rewards |
|---|---|
| Redeem for travel | $279.00 |
| Apply to statement credit | $231.57 |
| Charity | $279.00 |
| Gift cards | $198.09 |
| Merchandise | $198.09 |
| Airlines Rewards (Charts) | $638.91 |
| CIBC financial products | $231.57 |
Calculating your annual rewards
$24,000.00 annual spending x $2.66% return on spending = $638.91 annual rewards
$638.91 annual rewards – $139.00 annual fee = $$499.91 net annual rewards
Details and eligibility
| Do I qualify? | |
|---|---|
| Estimated Credit Score | 560 – 659 |
| Household Income | $15,000.00 |
| Interest Rates | |
|---|---|
| Purchase | 20.9% |
| Cash Advance | 21.9% |
| Balance Transfer | 21.9% |
| Fees | |
|---|---|
| Annual Fee | $139.00 |
| Extra Card Fee | $0 |
| Card type | Visa |
Insurance coverage
| Extended Warranty | 1 year |
| Purchase Protection | 90 days |
| Travel Accident | 500000 |
| Emergency Medical Term | 15 days |
| Flight Delay | 500 |
| Baggage Delay | 500 |
| Lost or Stolen Baggage | 500 |
| Rental Car Theft & Damage | Yes |
| Hotel Burglary | 2500 |
| Mobile Phone Insurance | 1000 |
CIBC Aventura Gold Visa Card Review
The CIBC Aventura Gold Visa Card is an attractive option for Canadians who enjoy travel rewards. As a Canadian credit card expert, I have assessed this card for its earning potential, benefits, drawbacks, and other pertinent information. Here are my findings:
Earning Potential
The CIBC Aventura Gold Visa Card earns Aventura Points on eligible purchases. Point rewards are distributed as follows:
- 2 Aventura Points per $1 spent on travel booked through the CIBC Rewards Centre
- 1.5 Aventura Points per $1 spent on gas, groceries, and at drugstores
- 1 Aventura Point per $1 spent on all other purchases
Benefit 1: Travel Perks
Cardholders have access to personalized travel planning and booking through the CIBC Rewards Centre, where they can use their Aventura Points for flights, hotels, cruises, and more.
Benefit 2: Travel Insurance
This card provides comprehensive travel insurance coverage, including out-of-province emergency travel medical insurance, trip cancellation/interruption insurance, and baggage and personal effects insurance.
Benefit 3: Car Rental Discounts
Cardholders can enjoy discounts on rental cars, as well as complimentary car rental collision/loss damage insurance when using the Aventura Gold Visa Card for rentals.
Benefit 4: Redemption Flexibility
Aventura Points can be used for various rewards, such as flights on any airline without blackout dates, gift cards, merchandise, or statement credits against eligible travel purchases. The card also offers a “Points for Other Purchases” program, which allows users to redeem points toward practically anything they buy using the card.
Drawback 1: Annual Fee
A significant drawback of the CIBC Aventura Gold Visa Card is the annual fee of $120, which can offset some of the reward value.
Drawback 2: Less Competitive Reward Rate
The overall reward rate of this card may be less competitive when compared to other travel rewards cards in the market, particularly for those who spend more on categories other than travel, gas, groceries, and at drugstores.
Additional Information
Keep in mind that the CIBC Rewards Centre flight prices might be slightly higher than prices found elsewhere, so it’s essential to compare the costs to ensure optimal value. Furthermore, Aventura Points expire after 60 months, underscoring the importance of timely point usage to avoid forfeiting rewards.
Interested in other credit cards? If the CIBC Aventura Gold Visa Card credit card isn’t perfect for you, you might want to consider the CIBC Aeroplan Visa Card. Plus, many Canadian’s that like the CIBC Aventura Gold Visa Card like the CIBC US Dollar Aventura Gold Visa Card, and the CIBC AC Conversion Visa Prepaid Card.
FAQ
Key benefits
- Welcome bonus of up to 20,000 Aventura Points upon qualifying purchases
- Aventura Points do not expire for cardholders, ensuring long-term rewards
- Complimentary first checked bag for air travel when rewards are redeemed
- 24/7 access to personalized travel planning services
- Mobile device insurance covering eligible smartphones and tablets
- Access to Visa Infinite Dining Series and Wine Country experiences
- No foreign transaction fee on purchases made outside of Canada
- Invitations to special events and promotions exclusive to cardholders
- Assistance for services, such as roadside emergencies, as part of Visa Infinite Privilege Concierge
- Flexibility to redeem rewards points on merchandise, gift cards, and activities
